Most people in here see Arbitrage Trading to run a script with different exchanges to utilise small difference in the pricing and make a profit out of it. It is like 30 years ago at the stock markets where you simple bough
stocks at one exchange and sold it at another with some profit hopefully.
Other types are :
- Statistical : Where you look at the cointegration of pairs and trade accordingly
- Triangle : Ask google
- Risk : ask google
so if you want to do it, find a script and try it as most other do. Maybe you earn money.
I do very profitable things with statistical actually.
p.s Your arbitrage is good option: www.ecoin.eu/arbitrage